Negotiators for the European Union and the UK have reached a deal to strengthen their post-Brexit relationship ahead of a summit on Monday, according to people familiar with the discussions and documents seen by Bloomberg.
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The negotiating teams settled on a text at around 2am European time and while the draft still needs to be approved by political leaders on both sides, no major objections are expected, the people said, asking not to be named discussing private talks.
The agreement includes three texts: a defence and security partnership, a joint statement on working together on geopolitical challenges such as Russia’s war in Ukraine and a “common understanding” on a range of other issues.
The two sides have agreed to extend reciprocal fishing rights for more than a decade, until 2038, according to a draft agreement seen by Bloomberg. Britain had originally wanted an extension of only four years, but the concession will unlock future agreements on food and agricultural standards to remove the vast majority of border checks with the EU, as well as on energy cooperation.
Prime Minister Keir Starmer’s government wanted to ease trade barriers as part of efforts to boost the country’s tepid level of growth. In working toward a “Common Sanitary and Phytosanitary Area” (SPS), as well as an agreement on energy, the UK would have to dynamically align with many relevant EU rules and accept the role of the European Court of Justice as the ultimate arbiter of the bloc’s laws.
In exchange for the longer term fisheries arrangement, the EU dropped its request for the SPS deal or energy cooperation to be time-limited.